Stock Market Tips for 05th February 2007
February 5th, 2007 by AnalystA strong pull back was seen on Friday and a lot of short covering was witnessed. Today, We are having mixed global cues with Dow Jones down a bit and Nasdaq up a bit.
Asian markets have also opened mix with NIKKEI down about 160 points and Kospi, Heng Seng and Straits Times almost flat.
The precious metal commodities slipped from 5 to 9 percent in the global markets yesterday due to selling by a US Hedge Fund Red Kite which lost about 20 percent in January. There will be a lot of pressure on the metal stocks. Try avoid them today.
These metals included Zinc, Copper, Aluminium and Gold.
Crude is now back to $60 per barrel and indian markets are at all time highs. The markets are looking strong but the put call ratio and other data indicates that a mild correction may be in the offing. But the overall mood of the markets is positive and does’nt seem to be cracking in the next couple of days.
Stocks to Watch
Parsvnath Developers at 403
PVR at 227
Reliance Communications at 490
Tata steel at 462
Tata steel seems to have found support at this level and it may not fall further. It seems to be a good buy at this level.
Posted in Stocks, Daily Tips |
